waiting on Ben now...but he may not give any clear signal either
- #653,363
- Jun 7, 2012 7:36am Jun 7, 2012 7:36am
- Joined May 2012 | Status: I'm Pawning 95Percent | 1,407 Posts
- #653,367
- Jun 7, 2012 7:40am Jun 7, 2012 7:40am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
Markets are now like,
Goldman: Hey Morgan, is umm.. QE3 still on?
Morgan: I dunno man, let me ask Stanley.
Stanley: No idea dude. We got better than expected numbers what do we do now? Got any ideas Tudor?
Tudor: Fuck me if I know.
Soros: I am retired so on suck my old weiner!
Bernanke: These idiots...
They think they are smarter than I am.
- #653,368
- Jun 7, 2012 7:41am Jun 7, 2012 7:41am
- | Joined Jun 2011 | Status: You can if you think you can | 2,969 Posts
Trade What You See Not What You Want To See
- #653,369
- Jun 7, 2012 7:41am Jun 7, 2012 7:41am
Markets are now like,
Goldman: Hey Morgan, is umm.. QE3 still on?
Morgan: I dunno man, let me ask Stanley.
Stanley: No idea dude. We got better than expected numbers what do we do now? Got any ideas Tudor?
Tudor: Fuck me if I know.
Soros: I am retired so on suck my old weiner!
Bernanke: These idiots...
NO QE
- #653,370
- Jun 7, 2012 7:42am Jun 7, 2012 7:42am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
They think they are smarter than I am.
- #653,371
- Jun 7, 2012 7:44am Jun 7, 2012 7:44am
- | Commercial User | Joined Apr 2012 | 1,121 Posts
An opportunity lost is not a capital cost.
- #653,372
- Jun 7, 2012 7:45am Jun 7, 2012 7:45am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #653,373
- Jun 7, 2012 7:51am Jun 7, 2012 7:51am
- | Joined Dec 2011 | Status: Charting the trades ... | 919 Posts
Yea...these OK employment numbers may not warrant QE right now
if you're unemployed for more than 6 month, you're not added to any new statistics There's yet nothing to forbid a QE3, and with the weak NFP numbers, expect more unemployment for next month.
Analyse this and that, and you'll see that QE is more necessary. Plus, for QE to happen, the unemployment and the NFP go in a fraction, and then and only then to they calculate the impact over their current funds.Sounds logical, right?
Please, just slap me around if I'm being silly ...
- #653,374
- Jun 7, 2012 7:53am Jun 7, 2012 7:53am
Buy EURGBP .8086.
SL .8076.
TP1: .8115
Not a super high probability trade, but a 3:1 RR Ratio makes it a good play imo.
That's why I longed GU and shorte EU..
- #653,375
- Jun 7, 2012 7:55am Jun 7, 2012 7:55am
Unemployment numbers wrap up in the US for a period of 6 months unemployed.
There's yet nothing to forbid a QE3, and with the weak NFP numbers, expect more unemployment for next month.
Sounds logical, right?
- #653,376
- Jun 7, 2012 7:57am Jun 7, 2012 7:57am
Unemployment numbers wrap up in the US for a period of 6 months unemployed.
There's yet nothing to forbid a QE3, and with the weak NFP numbers, expect more unemployment for next month.
Sounds logical, right?
you are the creator of your own destiny-Shivyog
- #653,378
- Jun 7, 2012 7:58am Jun 7, 2012 7:58am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
we got through 84 and 93 and pushed to 2605
still holding long at 76
the next push up should put 2600 to bed
bernie too scary good night
If you are new to Forex? Say Goodbye to your account!!
- #653,379
- Jun 7, 2012 7:59am Jun 7, 2012 7:59am
All eyes will be focused on Federal Reserve Chairman, Ben Bernanke, on Thursday looking for any hints that further quantitative easing is on the way. Don’t get your hopes up. I don’t expect the esteemed former Princeton professor to conveniently tip his hand. At the most he might make a reference to “keeping all options open,” and that is it.
The Fed’s Beige Book was released today and doesn’t by any means justify bolder action. This is the report that Ben will have in hand when he treks up to Capitol Hill for his congressional testimony.
According to the report, the economy is expanding at a moderate pace. Manufacturing, loan demand, capital spending, consumer spending are all up modestly. New York rents are rising. Auto sales are strong. Construction is up in both the residential and commercial sectors. Price inflation and wage pressures remain modest. It is all consistent with the lukewarm, flaccid 2% GDP growth that I have been arguing for all year. There isn’t a QE3 anywhere in this.
You can therefore expect market to be disappointed once again. Whether the selloff resumes mid-way through Ben’s statement, when it is over, or sometime next week, is anyone’s guess. Keep in mind that everyone and his brother is looking to sell this rally. So you will need the fastest mouse finger in the West to unload at the top. It is wiser still to start scaling in at this level here, with the S&P 500 at 1,318.
If Europe can just shut up for a few more days and quit acting like a chicken with its head cut off, then we might make it up to the 1,336 high that we saw last week. That would be an opportunity to double up your short and sell out of the money calls. If the Greek election on June 20 goes the right way, then we could make it all the way up to 1,350. That would be a textbook retracement of half of the move down that started on April 2. However, I doubt we’ll make it that high.
Take a look at the chart below and you’ll see that in recent years corrections have been a two-legged affair. First you see a dramatic selloff, then a dead cat bounce worth 50% of the move down, then a new marginal low. This logic also points to a final bottom at 1,250 or 1,200.
I am able to add shorts here because I covered the ones I had within one point of the 1,268 bottom on Monday. This enabled me to clock a three day, 45% gain in my short position on the S&P 500 (SPY). It gives me the dry powder I need to reload up here. That is provided I have the fastest mouse finger in the West, which my close friends assure me I do.
www.madhedgefundtrader.com
The Fed’s Beige Book was released today and doesn’t by any means justify bolder action. This is the report that Ben will have in hand when he treks up to Capitol Hill for his congressional testimony.
According to the report, the economy is expanding at a moderate pace. Manufacturing, loan demand, capital spending, consumer spending are all up modestly. New York rents are rising. Auto sales are strong. Construction is up in both the residential and commercial sectors. Price inflation and wage pressures remain modest. It is all consistent with the lukewarm, flaccid 2% GDP growth that I have been arguing for all year. There isn’t a QE3 anywhere in this.
You can therefore expect market to be disappointed once again. Whether the selloff resumes mid-way through Ben’s statement, when it is over, or sometime next week, is anyone’s guess. Keep in mind that everyone and his brother is looking to sell this rally. So you will need the fastest mouse finger in the West to unload at the top. It is wiser still to start scaling in at this level here, with the S&P 500 at 1,318.
If Europe can just shut up for a few more days and quit acting like a chicken with its head cut off, then we might make it up to the 1,336 high that we saw last week. That would be an opportunity to double up your short and sell out of the money calls. If the Greek election on June 20 goes the right way, then we could make it all the way up to 1,350. That would be a textbook retracement of half of the move down that started on April 2. However, I doubt we’ll make it that high.
Take a look at the chart below and you’ll see that in recent years corrections have been a two-legged affair. First you see a dramatic selloff, then a dead cat bounce worth 50% of the move down, then a new marginal low. This logic also points to a final bottom at 1,250 or 1,200.
I am able to add shorts here because I covered the ones I had within one point of the 1,268 bottom on Monday. This enabled me to clock a three day, 45% gain in my short position on the S&P 500 (SPY). It gives me the dry powder I need to reload up here. That is provided I have the fastest mouse finger in the West, which my close friends assure me I do.
www.madhedgefundtrader.com- #653,380
- Jun 7, 2012 8:03am Jun 7, 2012 8:03am
I don't think that EUR/GBP is a good paid for trade... It is good for analysis..